HSBC and rating agency Fitch have forecast India’s gross domestic product (GDP) to grow at 8.3 per cent in 2016-17. China is likely to have GDP growth at 6.5-7.0% in 2016 and 2017.
The IMF has China having per capita GDP on a purchasing power parity basis of $13993 in 2015 and India with $6167. China as 2.27 times the per capita GDP PPP than India.
On exchange rate GDP per capita basis China has about $7500 to India’s $1500. China is five times higher than India.
If India outperforms China by a consistent 3% per year, then over 40 years India will catch up on per capita GDP basis. India will have about 1% more population growth, so the overall GDP growth would need to be 4% more than China to get 3% more per capita.
SOURCES – Wikipedia, HSBC, Fitch Rating
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